How Much Luxury Travel Has Increased Since 2020

Since 2020 the world of high end travel has changed more than many people realise. The disruptions of the pandemic did not slow ultra luxury travel for long. They reshaped it. What used to be about ticking destinations off a list became about curated experience, privacy, flexibility, and emotional satisfaction. And the market has responded accordingly.

Here is how much luxury travel has increased since 2020, what has driven that growth, and what it means for travellers today.

1. Revenues in the Luxury Travel Sector Have Risen Sharply

Global luxury travel revenue has climbed significantly since 2020. After an initial drop at the height of the pandemic, high net worth travel demand rebounded faster than the broader market. By 2023 and into 2024, industry reports showed luxury travel revenues exceeding pre-pandemic levels by double digit percentages each year.

This growth reflects stronger spending rather than volume alone. High end travellers are booking more exclusive experiences, longer stays, and premium services than before.

While exact figures vary by region and segment, the trend is unmistakable: the luxury travel market has expanded meaningfully since 2020.

2. Ultra Luxury Hotel Rates Have Increased Substantially

One of the clearest indicators of change is pricing in the top tier of hotel suites. Presidential suites, private villas, and exclusive residences in luxury hotels have seen average nightly rates increase significantly since 2020.

This rise is driven by several factors:

  • higher operational costs in hospitality

  • greater demand for privacy and exclusive products

  • willingness to pay for fully private living experiences

  • limited high end inventory in key destinations

In some markets, top tier suites that once commanded £15,000 per night now exceed £25,000 or £30,000 on peak nights. In certain destinations or properties, even higher thresholds have become commonplace.

The result is that the price floor for ultra luxury travel has reset upward since 2020.

3. Demand for Remote and Private Experiences Has Soared

Before 2020 luxury travel was still largely about premium access to popular destinations. After 2020 travellers began seeking remote and private experiences at a much higher rate.

This includes:

  • private island stays

  • fully crewed yacht charters

  • exclusive lodge takeovers

  • remote wellness retreats

  • private guided cultural journeys

Interest in these products grew rapidly because travellers were less willing to share space, more willing to travel long distances for experiences that felt unconstrained, and more financially able to absorb the expense.

4. New Types of Luxury Products Have Emerged

Since 2020 the definition of luxury travel has expanded. It is no longer limited to grand hotels and first class flights. Today ultra luxury includes:

  • private aviation ecosystems, not just charters

  • curated adventure travel with bespoke guides

  • private culinary journeys with chefs

  • multi destination experiential itineraries

  • fully personalised on ground logistics

These products command premium pricing and reflect how spending has shifted toward customization and exclusivity rather than traditional notions of comfort alone.

5. Average Spend Per Traveller Has Grown

Industry data indicates that average spend per luxury traveller has increased since 2020. Ultra high net worth travellers now allocate larger portions of their travel budget to:

  • higher category suites or villas

  • exclusive experiences with limited access

  • private guides and personalised itineraries

  • curated cultural engagements

  • bespoke events

Even when the number of trips per year has remained similar, the value extracted per trip has increased, driving overall luxury travel growth.

6. Interest in Sustainability and Purpose Drives Premium Choices

Since 2020 travelers have shown growing interest in sustainable luxury travel. This includes staying in properties that demonstrate environmental stewardship, engaging in conservation linked experiences, and selecting travel products that give back to local communities.

Sustainable luxury often comes with higher price tags because it embeds real-world impact costs rather than cheap commodified experiences. This shift has contributed to overall increases in how much serious travellers are spending.

7. New Aspirations Have Shifted Spending Patterns

Luxury travel has become less about status and more about experience currency. Travellers are prioritizing:

  • personal transformation

  • emotional investment through travel

  • time with loved ones in curated settings

  • escape from everyday ecosystems

This psychological shift has heightened willingness to spend at higher levels, fueling growth in the ultra high end segment since 2020.

Final Thought

Since 2020 luxury travel has not simply recovered. It has redefined itself.

Spending has increased significantly. Demand for exclusive, private, personalised experiences has surged. The very idea of what luxury travel means has expanded to include emotional fulfilment, privacy, and bespoke curation.

For travellers today, luxury is less about destination and more about how the journey feels and what it reveals about what matters most.

In that sense, luxury travel since 2020 is less expensive because it has become more costly, and more meaningful because it has become more intentional.


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NEHA RAWAT